All the companies have strong government links. "Corporates with good cash flows and/or strategic importance will be a key investment theme for the region," Polackova said.

Spreads on Gulf bonds in both the sovereign and corporate space have tightened in recent weeks, as the region proves resilient to any contagion effects from the political upheaval in the broader Middle East.

Last week, Dubai-based airline Emirates priced a $1 billion five year bond at the tighter end of guidance, which attracted orders over $5 billion.

Tightening spreads has led to some investors looking harder for yields in solid Gulf credits. "We continue to be constructive on sovereign credit but valuations are less compelling than in early 2011. Opportunities however remain for selective longs and relative value plays," Polackova said. - Reuters